At a reception at the Latin American Aerospace and Defense Trade Show, which took place at the end of last week in Rio de Janeiro, Brazil, the establishment of a joint company was announced by the Chairman of the Board of Israel Aerospace Industries (IAI), Mr. Yair Shamir, and the President of Synergy Group (a leading South American corporation specializing in aerospace, shipyard, and oil industries), Mr. German Efromovich. The joint company will be called EAE Aerospace Engineering Ltd.
The reception was attended by central civilian authorities and high-ranking officials from the Brazilian army.
Mr. Yair Shamir noted that: "The establishment of this company is a product of the fruitful, successful cooperative relationship between IAI and Synergy Group. EAE will be active in Brazil, as well as in other potential markets in Latin America, in the aerospace, maritime, and homeland security sectors."
Mr. German Efromovich said: "The establishment of EAE with such a steadfast, experienced partner as IAI, will contribute to Synergy's position as a leading force in the aerospace and defense industries in Brazil and in other Latin American countries".
IAI's pavilion at the trade show, which exhibited its advanced systems and products, was visited by the Brazilian minister of defense, Nelson Jobim, and the Head of the Brazilian Navy, Admiral J?lio Soares de Moura Neto, both of whom expressed their interest in IAI's advanced technologies.
On 30.3.2009, the IAI Board of Directors, chaired by Yair Shamir, approved the establishment of the joint company with the Synergy Group Corporation (SGC), which acts in Latin American countries in the aerospace, energy, and maritime sectors. Each party will invest an initial sum of approximately $750,000 in the joint company.
The Brazilian joint company will offer its customers advanced systems, such as: unmanned aerial vehicles (UAV), multi-mission radars, inertial navigation systems, maritime platforms and systems, border and coastal defense systems, modernization upgrade and conversion services for civilian and military aircraft and vessels, and more.
"The joint company's capabilities will stem from the combination of the technology and experience provided by IAI, with the entrepreneurial culture and local facilities provided by the Synergy Group in Brazil," said Eduardo de Vasconcellos, head of business development in the aerospace and defense sector of Synergy.
EAE, which will be based upon strategic partnership, will support information and technology transfer, along with the co-development of projects with the Brazilian ministry of defense, the Brazilian Armed Forces and its research and development institutions, as well as academic institutions and other local companies. EAE will also broaden its scope to include strategic acquisitions of local companies in Brazil.
EAE will set up its offices in Rio de Janeiro and Sao Paolo, with initial industrial capabilities at Synergy's shipyards and aerospace facilities. More facilities will be added in accordance with the growth of the company.
In the picture:
Chairman of the Board of Israel Aerospace Industries, Mr. Yair Shamir
About IAI
Israel Aerospace Industries, Ltd. (IAI), is the largest aerospace and defense industry in Israel. IAI is Israel’s largest industrial exporter and a globally recognized leader for the defense and commercial markets. IAI provides unique system-of-systems solutions for a broad spectrum of needs in space, air, land, sea and homeland defense, including: unmanned air vehicles (UAV), radars, mission aircraft, AEW, EW, ELINT/ESM, SIGINT and COMINT/COMJAM, aerial refueling, Anti-Tactical Ballistic Missiles (ATBM), missiles, smart weapons, satellites and launchers, navigation, upgrading of military aircraft and helicopters, maintenance and conversion of commercial aircraft, and many other core technologies, products and services.
About Synergy Group Corp.
The Synergy Group Corp is one of South America’s largest conglomerates with business interests in aviation, oil & gas production, power generation and construction activities. The group employs in excess of 15,000 people principally in Brazil, Colombia and Ecuador. Amongst its aviation business interests Synergy Group owns and controls Avianca S.A. the major international carrier of Colombia.
For more information, please contact:
Doron Suslik
Deputy Vice President of Communications
Tel: 03-935-8509
Fax: 03-935-8512
Email: hpaz@iai.co.il